2/12/2009 @ 7:40PM

NASCAR's Highest-Earning Drivers

Nascar’s finances may be stalling, but top drivers’ paychecks pulled ahead last year thanks to large multiyear sponsorship deals and heavy spending on apparel and gear by fans. Dale Earnhardt Jr. was the highest earner at $35 million (or $830 for each left turn), up 30% from 2007. Earnhardt’s endorsements and licensing royalties made him $23 million, as items emblazoned with his new number 88 race car were Nascar’s top sellers; his salary and share of prize money accounted for another $12 million even though he won only one race.

The most sought-after drivers are somewhat insulated from financial weakness in the sport, at least over the short term. Their contracts typically cover several years and establish minimums for endorsement and licensing income, regardless of how the logoed goods sell. Racing purses continue to grow as well since they’re fueled in large part by revenue from TV deals, which were negotiated in 2005, during the sport’s boom.

A recent trend is for popular drivers to demand team ownership stakes. Jeff Gordon, Nascar’s second-highest earner, at $30 million, holds a minority stake in Jimmie Johnson’s car as well as his own. Tony Stewart reached a groundbreaking deal that gives him 50% of newly formed Stewart Haas Racing, which debuts this month.

For more on Nascar’s highest earners and to see a list of five drivers to watch in 2009, visit forbes.com/nascar.